Monthly Archives: December 2017

Make Your Car Road-trip Ready For Summer

Lazy days, rays of sunshine, ice-cream and popsicles, giggles and smiles, camp-fire and road-trips make the months of summer worthwhile! It is a good time to wear flip-flops, get into the car and hit the highway. So, before you get out for some sun-drenched driving, make sure that your car is ready for summer.

You are singing your favorite song while driving your car on the road. It is the end of a long day in the hot sun. You are travelling to a relaxing destination. And just then you hear a mechanical-sounding noise and feel your car wobble. The steering-wheel starts to feel strange and the smell of the smoke gets worse. It marks the end of the relaxation you have been longing for many days!

Get your Car in Top-Notch Shape

Summer is the time for taking a break from the daily routine and planning for a road-trip. But with more mileage and temperature rise, summer can present some challenges. Make your car road-trip ready. It’s best to give your car a check-up before you hit the road.

Let tires be your Priority

Tires are the single-most important part of your car. Keep them inflated to the proper pressure. It will not only improve the fuel economy but also ensure optimal car handling. In addition, make sure that the spare tire is properly inflated.

Check Air-Conditioning System

You don’t want to get stuck in the summer heat without proper A.C. As summer approaches, turn the system on and make sure that the cold air is present in the selected modes and at appropriate vents. If the air is cool but not cold and the temperature fluctuates dramatically, it is time for a trip to the mechanic.

Coolant needs to be Cool

The cooling system helps prevent the engine from overheating. So, consider flushing and refilling the coolant. Inspect the level, the condition and the concentration of the coolant periodically. Change it at least once a year for maximum performance.

Oil Inspection

Change the oil as specified in the car’s manual. Light oil, designed to work in the cold temperatures of winter, will be too thin to work during summer. It will fail to lubricate the engine components properly. Make sure to switch to the grade of oil which is appropriate for summer use.

Hoses and Belts

You should inspect the rubber components under the hood. They are responsible for cooling systems of the engine and the cabin. Hoses are made of flexible rubber compounds to absorb vibrations between the engine and radiator. So, you should replace broken, clogged, leaky, or worn hoses immediately. You should check the belts for wear and tear as well.

Stop at Brakes

When it comes to your safety, brakes are almost as important as tires. Try pumping the brakes. If they make weird noise, visit the mechanic immediately. Also, you should correct minor brake problems.

A Carwash is a Must

Water, sand and general filth takes a toll on your car. Do your car a favor. Clean it top to bottom, inside and out. Use good, high-quality cleansers and high-pressure water on the outside to get rid of salt and sand.

Summer is here. Take a road-trip. Enjoy it with your favorite song-playlist. But, do not forget to prepare your car for summer. With a few precautionary measures, driving during the summer months can be a pleasurable experience. So make your car road-trip ready and get sun-drenched!

Auto Loans Technology Comes To Your Rescue

Do you remember the time when you had bought your first car? Deciding a car was one difficult thing while getting loan at nominal interest rates seemed even more difficult.

So what has changed in the recent years? What has made us so lazy yet so smart? The answer is technology! Global access to internet and widespread sharing of information has helped us reach the present stage of virtual awareness. You may not physically touch a car but you can know about each and every bolt of the car. You can compare them easily with the help of technology.

In the same way, obtaining auto loans has become a piece of cake. Thanks to the rising use of technology, applying for an auto loan is possible without even moving a single inch from your seat.

How can Technology serve you in applying for an Auto Loan?

According to Interactive Advertising Bureau, 58% of the population regularly researches for a product on internet before buying it. It is a true example of digital awareness among the buyers. If you are applying for an auto loan, look how technology comes to your rescue and helps you save your hard-earned money in the process.

E-Documents

Scan your certificates and identifications along with your signature and save it to an e-vault. Uploading your personal information can help you save a lot of your effort, time and money. Whenever you need them, you can log in the system and retrieve them quickly. It makes applying for auto loans easier. Whenever you want to get auto loans, you need to submit your e-documents without having to refer to your original documents.

Comparison and Calculations

Previously, you had to understand each and every term of the auto loan contract and manually check the interest rates. However, things are different now. You need not waste hours calculating the monthly payments. The internet does it for you within a couple of seconds.

Also, the traditional rule of applying for an auto loan with the dealer is out of the window. The merit of borrowing auto loan over the internet is that you can borrow it from any lender you like. Also, comparing various offers has become easy because of technology.

Flexibility

Time is valuable. In the old days, you had to fix a meeting with the lender and visit his office. Also, you had to negotiate in order to get the best interest rates for your auto loan. While technology has made it possible for you to obtain a loan, it has also made you the owner of your time. There are no time boundaries for applying with the lender. Whether it is night or day, you can apply for an auto loan and get approved.

Technology has made the once ‘unimaginable’ a reality. Today, car buyers are conducting thorough research before making any kind of purchase. It is the reason behind many businesses opening an online store. Technology offers you great comfort and ample choice. So why not use it to save your valuable time, effort and money? Apply for an auto loan with the help of technology and buy your new car.

Makes Way For Your Financial Stability

Mismanagement of financial resources do create a lot of obstacles, which then makes it tough for you to lead a normal life, without any stress. It is a fact that you can easily deal with financial troubles when you have substantial funds by your side. But what if you do not have sufficient money to come out from the crisis? The problem area is of course your poor credit score. In such situations, taking out the loans is the most viable solution to make the survival easy. You must be thinking whether you stand a chance to avail loans in the absence of guarantor or not. At this point, there is no need to worry because you can prefer the option of loans without guarantor. These loans are can be sourced without facing too much hurdles.

Credit Checks is not required

Overcoming the financial setbacks looks always a tough task for someone who is looking for a way to manage the crisis, despite having no credible footprint. When it comes to satisfying the various financial needs and demand, you still have a chance to procure loans with no credit check and no guarantor option. Since your financial condition needs to be revitalised, managing the increasing expenses with these loans seems to be possible. Instead of getting confused, you should need to concentrate on availing these loans.

Prefer to Borrow a Small Amount

If you are trying to acquire some sort of funds, it would be preferable to opt for short term loans with no guarantor through which cash shortage problems can be solved. However, it is important to look for the best possible solution that can help you in a positive manner and this is where short term loans gain prominence. At best, these loans are meant for solving small term financial difficulties. If your credit score is not in your favour, then it is wise to acquire small amount of funds. With the loans, you will certainly find a way to deal with the cash shortage, which does provide some good respite.

Bad Credit is not an Issue

When you think about the loan, the first thing that will definitely come in your mind is credit history. Having a poor credit score always act as a trouble in the way of borrowing funds but credit score is really not a problem in the context of short term loans. In other words, the doors of borrowing short term loans for bad credit people with no guarantor option is still opened in time of urgencies. Therefore, these loans allow you to get access to the enough funds to manage the situation without much of hurdles.

Optimising solution with the right offers

As a bad credit borrower, it is true that the options of securing emergency funding are limited for you. For a change, the no guarantor loans with no credit check option seems ideal for your circumstances. The loans are made available to the borrowers, struggling with poor credit score and looking for a way to manage the cash shortage. More importantly, with this loan alternative, you are free from the compulsion of providing guarantor for borrowing the loan.

If you are in financial mess, then you can utilise these loans to accomplish your various purposes like to tackle unexpected expenses, education expenses, and medical bills and also provide comfort in financial instabilities for bad credit borrowers.

Brokering Must For Availing No Guarantor Loans

With broken finances break a lot of relations. Your credit worth not only reduces chances of availing loans and credit cards but it affects your social life as well. No one wants to stand beside a falling tree. With bad debts, you would be treated like a rotten trunk. You need to learn the art to stand tall in all the seasons of life. Loans help you save face many times. You need the loan, be it a no guarantor loan to stay strong.

During bad credit situation, you are the only guarantee for the self. Whether you have failed to pay back your car loan or mortgage recently or you have too many of credit card bills that are pending from months, you need financial assistance to revoke the bad history. Raising a loan is never a solution for the bad credit situation unless you have a plan to build a good history.

It is not a legal necessity to avail services of a loan broker but a loan broker can go a long way in helping you make a blueprint to improve your credit situation. You can contact a loan broker online and use the services from the comfort of your home. He would guide you on how no guarantor loans for bad credit could be availed swiftly. Besides, he will also explain what would be the various repercussions of drawing a no guarantor loan.

What to expect when you want no guarantor loan with bad credit score?

1.The broker would show the mirror image of life after next loan. He would ask you to get ready to pay higher interest rate. When you have the bad score, a presence of a Guarantor or collateral shares risks factor associated with the application. When you apply for a loan without a guarantor, it ought to attract the higher rate of interest. Herein the added cost of a loan is brunt not only to meet the current obligations but to build score at the same time.

2.You can apply for a personal loan or a business loan as a no guarantor loan according to your situation. The loan can be applied for both short term and long term. The broker would help you avail the one despite your credit history.

3.You should apply for a loan only when it is a necessity. With bad history, your credit report would not be ready to take more red flags. Make note of your expenses and only apply for the amount you compulsively need. You should put all your energies into making the loan affordable so that you could successfully repay the loan.

4.When you apply for the loan without guarantor the responsibility to pay back the loan is entirely on your shoulders. While you contact the broker it is important that you frankly disclose your current debt situation and share your requirements.

5.There should not be any fancy expectations. As long it took to ruin the score, as long would it take to build it now?

4 Tips To Obtain An Auto Loan Despite Car Repossession

The situation of car repossession is a tricky scenario. It can occur due to several reasons. One of the core reasons for car repossession is performing a delinquency on an auto loan. Contact your lender to know the exact reason behind the car repossession. Once you understand the appropriate reasons, you have two options. One, you can pay the required repossession costs and the entire loan amount to reclaim your car. Two, you can decide to let go off the car in which case you will be liable to pay the deficiency balance to the lender.

No matter what option you choose, the situation will negatively impact your credit score and credit worthiness in the eyes of the lender. Despite the downsides of car repossession, the possibility of obtaining an auto loan still exists. The key to securing an auto loan requires rigorous preparation.

Car Repossession: A Setback but not a Total Loss

Despite car repossession, which points should you keep in mind when you set out to obtain an auto loan?

1) Repossession Rights

Every individual is entitled to certain car repossession rights. It is common knowledge that one major right involves buying the car back from the lender. The method of buying back the car involves repaying the full amount to the respective lender. Another right involves the safety of personal property left in the car while it was repossessed. Any item found in the car cannot be sold and the owner of the car has rights to retrieve them. Similarly, no personal property can be harmed while repossession. For instance, the lender cannot damage the garage to get hold of the car.

2) A Sizeable Down Payment

Even if car repossession occurred a year back, a lender may hesitate to grant the auto loan. Agreeing to pay a sizeable down payment is a great way to increase your credit worthiness. A good amount to put down is 20% or higher of the total cost of the car. When you make a hefty down payment, lenders will view you as a committed buyer and overlook the negative mark of repossession. Therefore, a sizeable down payment will not only reduce your monthly payments but also provide you with a higher probability of getting a loan approval.

3) Used Car over New Car

While suffering from car repossession, it is important to set realistic and achievable goals. Opting for a used car will prove more fruitful than choosing the newest car in the lot. As a used car is sold for a lesser price, the lender views low risk in giving out a loan of a smaller amount. An expensive car with expensive payments was the reason that got your car repossessed in the first place. Therefore, choosing a used car that matches your budget is ideal as you can make payments comfortably.

4) Prepare Required Documentation

Compiling documents can be tedious, but after recent car repossession, it is a good idea to prepare thoroughly. Usually, documents are provided to reassure the lender of your credit worthiness. For instance, your recent paystubs provide proof of financial stability. Primarily, the required documents include proof of employment, a valid driver’s license, current utility bill and federal income tax payments. Make sure the information is accurate as the dealer will cross check it. Once you present the required documents, the process of getting an auto loan will become easier.

Building a stellar credit score is not going to happen overnight. But, it doesn’t mean you have to shy away from applying for an auto loan. If you wish to drive a car again, consistent effort, adequate preparation and focus will help you to recover from the tragedy of car repossession.

Being A Cosigner All Risk And No Reward

We all might have experienced a situation where a friend or a family member asks you to become a cosigner. Before saying yes, it is best to know what you are getting into. Typically, when you consider cosigning for an auto loan, you are agreeing to repay the loan amount if the primary borrower stops making payments. While you agree to it, the risks outweigh the benefits. You may consider it as a way of improving your credit score, but do not delve into it before fully understanding the risks associated with it.

Risks associated with Cosigning an Auto Loan

1. Damaged Credit Score

Earning a good credit score requires decent effort. When you become a cosigner, any form of delay or non-payment of the auto loan will reflect on your credit report. Inability of the primary borrower to make the payments can decrease your credit score. Also, your debt-to-income ratio increases when you become a cosigner. Ideally, a debt-to-income ratio should not be higher than 36 percent. Being a cosigner increases your debt against your income. And, your credit score decreases due to increased debt amount. Therefore, if the borrower has a poor credit history, rethink your decision.

2. Enforceable Legal Judgments

When the primary borrower is unable to repay the loan, the lender may take legal action against the cosigner. Also, there is a high probability that you are sued before the primary borrower. It is because you are likely to repay the loan amount fast in order to protect your credit score. In case, the primary borrower is unable to repay the loan, a cosigner’s assets and salary can be in jeopardy as the lender can claim his assets.

3. Reduced Credit Ability

When you are a cosigner, other lenders see you as someone who has already agreed to guarantee a loan. The lenders assume that you are already making monthly payments on the loan you have cosigned for, thereby leaving little money to make payments for a new loan. Thus, a new auto loan approval might become difficult for you.

Does it make sense to become a Cosigner?

While it may not be a financially sound decision to become a cosigner, you can agree to it when you are in a position to afford the risk. If you have a good amount of surplus cash or possess substantial assets to repay the loan amount of the primary borrower, you can think about it. Also, if you will be using the car, it makes sense to say yes.

Cosigning an auto loan may look like a lucrative method to improve your credit score. However, it can mean all risk and no reward when you have to deal with a damaged credit score, enforceable legal judgments and reduced credit ability.

Cosigning an auto loan may look like an easy way to improve your credit score. But, it is not true. Before you jump at the first chance of becoming a cosigner, arm yourself on the know-hows of the risks associated with it. Learn more about how it can mean all risk and no reward if you have to deal with damaged credit score, enforceable legal judgments and reduced credit ability.

Top Reasons To Contact A North Carolina Credit Union

Surely, if you have never needed a loan before, you do not really know why you should consider getting in touch with a North Carolina credit union rather than any other available financial institution. Well, before making any decisions in this case, you need to be aware of a few important details that your local bank does not mention when you want to get a loan or benefit from a particular service that they have to offer. It all starts with the fact that a Winston Salem credit union consultant does not depend on commission.
On the other hand, bank consultants are motivated by different levels of commission to convince you that a particular financial product is better than another, even if the second option would match your needs. This is just one of the many reasons why you should consider looking into becoming the member of a North Carolina credit union. At the same time, you should know that even if you have a bad credit score, the right Winston Salem credit union might be able to find a proper solution.
For example, if you visit a North Carolina credit union first and you ask them to look into your current financial situation, they will tell you everything you need to know about it. So, if your credit score is not great, they will not turn you down right away. First, they will make sure that they look up every possible solution. After that, if somehow your credit score is still preventing them from approving your loan, they will offer you suitable advice on how to improve it in the shortest time possible.
Another reason why you should want to get in touch with a Winston Salem credit union is the fact that you will be treated like a valuable member of the community when you walk in such an establishment. Due to the fact that credit unions are owned by their members, you are actually part owner of the institution, which means that the consultants working there have our best interest at heart.
Also, you will be greeted with a smile and will have enough time to talk about your current situation, your needs and expectations. The credit union consultant will answer any questions that you might have and will make sure that when you opt for one of their financial services, you do not end up paying for something that you do not really need. You might also want to keep in mind the fact that credit unions ask for lower interest rates, which means that even if you get a loan, paying it back will not bankrupt you in the long run.
Surely, if you have never needed a loan before, you do not really know why you should consider getting in touch with a North Carolina credit union rather than any other available financial institution. Well, before making any decisions in this case, you need to be aware of a few important details that your local bank does not mention when you want to get a loan or benefit from a particular service that they have to offer. It all starts with the fact that a Winston Salem credit union consultant does not depend on commission.
On the other hand, bank consultants are motivated by different levels of commission to convince you that a particular financial product is better than another, even if the second option would match your needs. This is just one of the many reasons why you should consider looking into becoming the member of a North Carolina credit union. At the same time, you should know that even if you have a bad credit score, the right Winston Salem credit union might be able to find a proper solution.
For example, if you visit a North Carolina credit union first and you ask them to look into your current financial situation, they will tell you everything you need to know about it. So, if your credit score is not great, they will not turn you down right away. First, they will make sure that they look up every possible solution. After that, if somehow your credit score is still preventing them from approving your loan, they will offer you suitable advice on how to improve it in the shortest time possible.
Another reason why you should want to get in touch with a Winston Salem credit union is the fact that you will be treated like a valuable member of the community when you walk in such an establishment. Due to the fact that credit unions are owned by their members, you are actually part owner of the institution, which means that the consultants working there have our best interest at heart.
Also, you will be greeted with a smile and will have enough time to talk about your current situation, your needs and expectations. The credit union consultant will answer any questions that you might have and will make sure that when you opt for one of their financial services, you do not end up paying for something that you do not really need. You might also want to keep in mind the fact that credit unions ask for lower interest rates, which means that even if you get a loan, paying it back will not bankrupt you in the long run.

Strategizing An Auto Loan Payment Despite Low Income

Buying a car is an expensive affair. Every household requires a car or two for daily chores or commuting to work. However, buying a car and acquiring an auto loan becomes a challenge when the total income in your house is low. Purchasing a new car can put a huge dent in your already confined budget. Sourcing monthly payments for your dream car may seem like a distant dream. But if you correctly strategize your income, obtaining a low income auto loan and buying the car of your dreams can become a reality.

Which Strategies will help you to get a Low Income Auto Loan?

Conceptualize. Strategize. Improvise.

1) Show Discipline in Savings

Once you receive your monthly income, it is only a matter of time before it is all spent. Inculcating a habit of savings will ensure that you have accumulated enough funds for the long run. Financial strength proves that you are credit worthy and will be able to timely repay your auto loan. The threshold income required to provide an auto loan ranges from $1600 to $2000 monthly. Therefore, if you commit to save a certain percentage of your income, making a car payment will become an easy task.

2) Share the Liability

Obtaining a low income auto loan can become simple if you share the liability with a co-applicant. A co-applicant is a person who is taking equal ownership of the car and the payment of the loan. In case, you cannot find a co-applicant, a co-signer can always act as a guarantor for payment of the auto loan. The presence of a co-applicant or a co-signer builds trust in the mind of the lender and he/she becomes more willing to lend you the money.

3) Stability of Employment

Evidence of current employment goes a long way in building a positive perception. Presenting proof of a stable job or a consistent income will get you one step further in getting a low income auto loan. Additionally, a stable employment indicates that you will be financially sound to make future payments. If you are self-employed, you must show tax returns of last two years to establish your reputation.

4) Shed a Large Portion for a Down Payment

When the income is low, down payment becomes an important tool to prove your credit worthiness. The underlying benefit of a large down payment is a low interest rate. As the total amount of the loan decreases due to a down payment, the duration of the loan also decreases. Thus, a large down payment will help you to plan your future budget for the auto loan payments.

Surely, it takes consistent time and effort to save money to buy a car. However, patience, commitment and strategizing your income correctly will assist you in obtaining a low income auto loan.

Interest Rates On Home Loans

Home Loan:-
Loan acquired from a financial institution to purchase a home. Home loans consist of and justable or fixed interest rate and payment terms. Home loans may also be referred to as mortgage loans.
Home loans, also known as mortgages, use the borrower’s home for collateral. This home can be a single-family house up to a four-unit property, as well as a condominium or cooperative unit. Lenders fund home loans, but both the lenders themselves and brokers who act on behalf of the lenders originate, or process, them.

Construction Loan:-
A short-term loan used to finance the building of some real estate project. The builders take out a construction loan in order to begin the project while they obtain long-term funding. Because there is no guarantee that the builders will be able to obtain long-term funding and a construction loan is not intended to fund an entire project, construction loans are fairly risky, and, as a result, have high interest rates.
Mortgage Loan:-
A mortgage is an agreement that allows a borrower to use property as collateral to secure a loan. In most cases, the term refers to a home loan: when you borrow to buy a house, you sign an agreement saying (among other things) that your lender has the right to take action if you don’t make your required payments on the loan.
Takeover Loan:-
A takeover occurs when an acquiring company makes a bid in an effort to assume control of a target company, often by purchasing a majority stake. If the takeover goes through, the acquiring company becomes responsible for all of the target company’s operations, holdings and debt.
Loan Against Property (LAP);-
A loan against property (LAP) is exactly what the name implies — a loan given or disbursed against the mortgage of property. The loan is given as a certain percentage of the property’s market value, usually around 40 per cent to 60 per cent.
DTCP Approve :
Directorate of Town & Country Planning. except in chennai metropolitan area where CMDA is approving the layouts of housing, institutional & industrial layouts beyond 1 hectare extents all other places in tamilnadu DTCP is the authority to approve such developments.
Site Purchase Loan :
Indian investors are traditionally inclined towards buying land either purely as an investment or for building a house. So, if you are looking to buy a plot, you may not be eligible for a home loan, but for a land loan. Home loans are available only for the property already constructed, under construction or likely to undergo construction soon. For funding the purchase of a vacant plot, you will have to go for a land loan instead. Although the terms, rates and processes related to land loans are similar to that of a home loan